Ashland Global Holdings Inc. (“Ashland”) (NYSE: ASH) announced today that its indirect, wholly owned subsidiary, Ashland LLC (the “Company”) is seeking to obtain a new $600 million 7-year senior secured term loan B facility to retire the Company’s 3.875% senior notes due 2018 (the “Notes”).
In addition, the Company intends to refinance its existing $800 million senior unsecured revolving credit facility with a new $800 million 5-year senior secured revolving credit facility. The Company is also seeking to obtain new senior secured term loan A facilities, consisting of a new $250 million 3-year term loan A facility and a new $250 million 5-year term loan A facility, to finance a portion of the consideration for the Company’s previously announced, pending acquisition of Pharmachem Laboratories, Inc. (“Pharmachem”).
This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, any security, including the Notes. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
